QuickBooks Online Tips for Your Business

QuickBooks Online Tips for Your Business

As a small business owner, you’re well aware that you are the one who ends up filling in for any task that isn’t outsourced or assigned to an employee (if you have employees). As far as these tasks go, if you don’t do them they don’t get done! On the subject of things not getting done, have you been leaving your company’s digital books tucked away in a dark digital corner, gathering pixelated dust? Well, they won’t reconcile themselves, and not wanting to do the books doesn’t make them go away. We recommend rolling your sleeves up and getting into…
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Cash vs. Accrual Accounting

Cash vs. Accrual Accounting

Q: What’s the difference between Cash and Accrual Accounting?A: The difference is … Timing! Okay, that’s an old borrowed joke that wasn’t that funny in the first place, but it would probably get a laugh from those accountants in the TV show Parks & Recreation. Importantly, timing differences with regards to the operation of your business can filter through to affect the timing of when you pay taxes, the complexity of your bookkeeping, and even the accuracy of your business planning. Let’s start with an explanation of each kind of accounting, and then get into the implications at the end.…
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Single-Member LLCs and Schedule C

Single-Member LLCs and Schedule C

Are you a corporation? Do you find yourself breathing cash flow and snacking on accounts receivable, and was your birth recorded on your Articles of Incorporation? We’re just kidding; no living breathing person is a corporation (if you take away the living breathing part, it’s a different story). Regardless, you might be doing business as a corporation, and you might be the only person who works for this corporation. If this is the case, you are probably a Single-Member Limited Liability Corporation (SMLLC). Note: A married couple can also count as a single member for an SMLLC depending on the…
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